11. 12. 13. 14. 15. 16. . Please show the argument why AVC = . Please show the argument why MC' = sketch the curves by hand. . Show the argument why marginal cost (MC) can equal both the change in total cost divided by the change in output and the change in total variable cost divided by the change in output when total cost and variable . _ ATC _ ATVC cost are not equal, i.e., MC' = 5 = Ty %, using the production and cost relationships where w represents the price of the input and APP denotes the average physical product. w MPP' represents the price of the input and MPP denotes the marginal physical product. using the production and cost relationships where w . How do you find the optimal output in the short-run if your goal is to maximize profit? Please explain. 10. Please explain what happens to profit when marginal revenue (MR) is greater than marginal cost (MC), MR